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dc.contributor.authorMakin, Tonyen_US
dc.contributor.editorRobert Crowen_US
dc.date.accessioned2017-05-03T12:19:25Z
dc.date.available2017-05-03T12:19:25Z
dc.date.issued2009en_US
dc.date.modified2010-08-25T07:02:18Z
dc.identifier.issn0007666Xen_US
dc.identifier.doi10.1057/be.2008.8en_AU
dc.identifier.urihttp://hdl.handle.net/10072/29379
dc.description.abstractThis paper examines how China's heavily managed exchange rate contributes to its huge trade surplus with its major trading partners, most notably the United States. Based on the distinction between economies' aggregate output and expenditure and on the premise that exchange rates are shared variables, it develops a straightforward framework that shows how exchange rate management by China's central bank affects China's fast growing output, expenditure, employment, and trade balance, while simultaneously influencing these aggregates in its slower growing industrialized trading partners. This framework reveals that under conditions of limited private capital mobility an inflexible yuan yields higher short-run output gains for China at trading partners' expense through a form of ''exchange rate protection.'' At the same time exchange rate misalignment limits China's consumption and hence living standards. A misaligned currency is also shown to bias international saving and investment flows and is central to any explanation of global imbalances.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherPalgrave Macmillanen_US
dc.publisher.placeUnited Statesen_US
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom80en_US
dc.relation.ispartofpageto86en_US
dc.relation.ispartofissue2en_US
dc.relation.ispartofjournalBusiness Economicsen_US
dc.relation.ispartofvolume44en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchInternational Economics and International Financeen_US
dc.subject.fieldofresearchcode140210en_US
dc.titleIs China’s Exchange Rate Policy a Form of Trade Protection?en_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Accounting, Finance and Economicsen_US
gro.date.issued2009
gro.hasfulltextNo Full Text


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